HALISTER1: USD/MYR NDF Volume Spikes to 2-Month High After BNM Warnings

USD/MYR NDF Volume Spikes to 2-Month High After BNM Warnings

(Bloomberg) -- USD/MYR NDF global volume rose to $5.4b yesterday, highest since September, according to DTCC data, after BNM warns there will be continued restrictions for avenues that could be used to support speculative activities in the currency market.
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  • BNM may take action against foreign or local banks registered in Malaysia if they facilitate NDF transactions, Bernama reported separately yesterday
  • USD/MYR 1-month NDF now up 0.3% to 4.4194
  • Spot USD/MYR rises for seventh day, up 0.3% to 4.3630
  • Five-year credit-protection costs for Malaysia rose 16bps yesterday to 156bps, highest daily close since June 16, according to CMA New York data on credit-default swaps
  • NOTE: Malaysia Asks Foreign Banks to Refrain From NDF Transactions
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Source: BFW (Bloomberg First Word)

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